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Aug 10, 2017

BATTERY BUSINESS * China: Nissan sell unit to chinese private

* Tokyo - In $1 billion deal, Nissan it's looking for ways to rein in costs to make Leaf competitive

--- Nissan Motor Co. is selling its battery business to Chinese private equity firm GSR Capital for about $1 billion, a person with knowledge of the matter said, as the carmaker seeks ways to improve competitiveness of its Leaf electric cars while reining in costs... The deal covers Nissan’s battery subsidiary Automotive Energy Supply Corp. as well as manufacturing operations in Japan, the U.S. and U.K., Nissan said in a statement Tuesday, which didn’t disclose financial terms. Assets sold to GSR will also include part of Nissan’s Japanese battery development and engineering operations in Oppama, Atsugi and Zama...(Photo Bloomberg - An employee prepares to install a charging plug in the socket of a Nissan Leaf electric automobile during the Geneva International Motor Show in the Swiss city in 2015) -- Tokyo, Japan - BLOOMBERG/Japan Times - AUG 9, 2017